Surge Energy (TSE:SGY) Given New C$12.75 Price Target at Acumen Capital

Surge Energy (TSE:SGY) had its target price increased by Acumen Capital from C$12.25 to C$12.75 in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have a strong-buy rating on the stock.

Separately, BMO Capital Markets lifted their price objective on Surge Energy from C$10.00 to C$11.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Surge Energy presently has an average rating of Buy and a consensus target price of C$11.89.

Surge Energy Stock Performance

SGY stock opened at C$6.38 on Thursday. The company has a debt-to-equity ratio of 34.03, a current ratio of 0.38 and a quick ratio of 0.40. The business has a 50-day moving average price of C$6.99 and a 200 day moving average price of C$7.03. The company has a market capitalization of C$641.70 million, a P/E ratio of 3.94, a PEG ratio of 0.59 and a beta of 2.66. Surge Energy has a 1-year low of C$5.89 and a 1-year high of C$9.77.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, May 8th. The company reported C($0.04) earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.17). The firm had revenue of C$158.17 million during the quarter, compared to the consensus estimate of C$158.95 million. Surge Energy had a negative net margin of 0.48% and a negative return on equity of 0.32%. As a group, equities research analysts forecast that Surge Energy will post 0.7599558 EPS for the current fiscal year.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.043 per share. This represents a $0.52 annualized dividend and a dividend yield of 8.09%. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, July 30th. Surge Energy’s dividend payout ratio is presently 29.63%.

About Surge Energy

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.